While the ESM fund is to come on line again in July; for the moment Merkel is rejecting any kind of joint debt issuance by the EU nations.
Under ‘no circumstances’ Germany will not support Euor backed bonds.Comments »
[youtube://http://www.youtube.com/watch?v=3t8xwpJZsNc 450 300]Comments »
Italy should start printing fresh euros and Germany should leave the currency union, former Italian Prime Minister Silvio Berlusconi said Friday, MF-Dow Jones reported.
“Here’s my crazy idea; Let’s start printing euros ourselves,” Mr Berlusconi told an assembly of his center-right People of Liberty party’s parliamentary deputies.
“Germany should leave the euro if it doesn’t agree with the European Central Bank serving as a lender of last resort,” he added, MF-Dow Jones said.
If the ECB doesn’t take on that role, Germany’s role in Europe should be reviewed, he said.Comments »
Personally i think New Yorkers are a cut above the rest, but i’m biased. At any rate, while you all cry foul nanny socialist nazi controls, i will agree this is not the right way to go about curbing obesity. However, when a ‘sugary drink’ that is not made from sugar tricks your brain into thinking it is not satisfied it seems almost appropriate.
How many people or New Yorkers know that the brain is tricked by corn syrup creating an addictive response like heroin ?
Furthermore, for $KO to play up to New Yorkers as being smart is just a ploy to push your hazardous product. When i was youger i loved Coca Cola, but then stopped be cause of corn syrup and this:[youtube://http://www.youtube.com/watch?v=8dlheziYWGU 450 300] Comments »
“The economic disaster was driven, Ferguson writes, by a combination of “very low interest rates, pervasive dishonesty through the financial system, massive lending fraud, speculation, demand for high yield securities, and not insignificantly, a squeezed American consumer desperate to maintain living standards, and told by everyone – including George Bush and Alan Greenspan, the brokers and the banks, that home borrowing was the way to do it.”
Along the way, Ferguson debunks the right-wing meme that Freddie and Fannie Mae caused the bubble; he holds the pure private sector responsible, especially its least regulated shadow banking parts.”Comments »
It really is all about Spain.
“We’re in a situation of total emergency, the worst crisis we have ever lived through” said ex-premier Felipe Gonzalez, the country’s elder statesman.
The warning came as the yields on Spanish 10-year bonds spiked to 6.7pc, pushing the “risk premium” over German Bunds to a post-euro high of 540 basis points. The IBEX index of stocks in Madrid fell 2.6pc, the lowest since the dotcom bust in 2003.
The buzz is that Greece is an afterthought and that the Euro either lives or dies based on the immediate response to Spain.
The likelihood of prosecution on Wall st. for the debacle has all but faded away. In order to get business done these days you must consider bribery and fraud in some cases. Cronyism has reached a new pinnacle. A sad story for the “civilized’ world that believes in “law and justice.”Comments »
More confusion in the Euro Folly Zone.
“The European Central Bank denied it has rejected a plan floated by the Spanish government to recapitalize Bankia, saying it hasn’t been approached.
“Contrary to media reports published today, the European Central Bank has not been consulted and has not expressed a position on plans by the Spanish authorities to recapitalize a major Spanish bank,” the Frankfurt-based ECB said in an e- mailed statement. “The ECB stands ready to give advice on the development of such plans.”Comments »